Lates News

The world's largest mining company, BHP Group, announced that its net profit for the first half of the fiscal year increased by nearly 30% thanks to the growth in copper demand. The company stated that in the six months ending December 31, revenue increased by 11% year-on-year to reach $27.9 billion, while shareholder profit increased by 28% to $5.6 billion. The performance exceeded analysts' expectations. The CEO of the company stated that this is a "milestone performance for BHP Group" as copper contributed the largest share of profit for the first time, accounting for 51% of the underlying profit before tax, interest, depreciation, and amortization. The CEO mentioned that several projects supported BHP's copper production growth plan, with the company aiming to reach an annual production of 2.5 million tons by the mid-2030s.